Legal marijuana pushes Colorado broker to new heights
Legalization for marijuana may be on the horizon in Canada, but it’s hazy as to how the new legislation will be implemented – and what the resulting impact on the insurance industry will be.
However, Canadian insurers do have a precedent to look to in Colorado, which legalized the drug in 2013. Local insurance professional Julius Birch “J.B.” Woods, owner of Parker, Colo.-based Greenpoint Insurance – one of the only cannabis-focused independent insurance agencies in the country – says he can barely keep up with demand. He can already report a premium volume of 140% over last year.
But the road to success didn’t come without its share of sweat, blood and tears, however—it would take a 1,000-mile move, a question from a reticent client and a tremendous leap of faith on the part of the Woods family before Greenpoint would become the major market player it is today.
Woods’...
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